How Biden's Clean Electricity Standard Might Work

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By The Interchange: Energy Conversations From GTM and Wood Mackenzie. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

This week, we’ll take a peek at the news. Last week, president Biden unveiled his administration's plan for a $3.5 trillion infrastructure plan which the democrats hope to pass through reconciliation. While the details are still sparse, we do know that one of the linchpins of the Biden administration's climate strategy -- a national clean electricity standard (CES) -- is included in the plan.

It's a big deal. If you care about the power sector, a national CES might be the most impactful piece of legislation affecting it in decades. If you care about decarbonization, almost every pathway drives directly through a decarbonized power sector combined with large-scale electrification of other sectors such as transportation, industry and heating.

But the details are still being worked out, and there’s a labyrinth of parliamentary rules that a CES would have to navigate to make it through the US Senate’s budget reconciliation process.

To shine a light on the process and what a CES could look like, Shayle turns to Jesse Jenkins, an energy modeling expert at Princeton who is helping to design the policy in the bill.

Shayle and Jesse talk about the differences between a Renewable Portfolio Standard (RPS) and a CES, crafting a CES through the budget instead of regulation, the role that technology-neutral tax credits could play in the bill, the funds and penalties utilities might face, and how to get the incentives right for the energy transition given the limitations of reconciliation. Helpful links:

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